Paramount Skydance seeks $7.5B loan for Warner Bros. Discovery deal

Paramount Skydance Corporation announced on September 24, 2026, the launch of a syndicated $7.5 billion senior secured incremental term B loan facility as part of its strategy to acquire Warner Bros. Discovery, Inc. The deal represents a significant expansion of the company’s financial leverage, with Paramount Skydance targeting an aggregate of approximately $44.4 billion in new secured debt beyond the incremental term B facility and prior financings. These proceeds, combined with existing cash reserves and proceeds from an upcoming equity financing, will fund the acquisition and help repay outstanding debt obligations. The transaction remains contingent on favorable market conditions, regulatory clearances under antitrust laws, and other customary closing conditions, including the absence of material adverse changes to Warner Bros. Discovery’s financial performance or business prospects. Paramount Skydance operates in three core segments—Studios, Direct-to-Consumer, and TV Media—with a portfolio spanning major brands such as Paramount Pictures, CBS, Nickelodeon, MTV, Showtime, and Paramount+.